To provide diversified channels for small-capital investors to participate in the capital market, the intraday odd-lot share trading system was launched on October 26, 2020 to lower the threshold for investors, improve trading opportunities for investors to trade odd lot shares in the intraday session, and improve the liquidity of the intraday odd-lot share market. Starting from December 19, 2022, the matching interval of intraday odd-lot trading was shortened from 3 minutes to 1 minute. To further enhance the trading opportunities for investors, the matching interval of intraday odd-lot trading will be shortened from 1 minute to 5 seconds from December 2, 2024.
According to statistics, the average daily trading value of odd-lot shares on the TWSE(Taiwan Stock Exchange) and the TPEx(Taipei Exchange) was NT$2.338 billion (0.75%) and NT$439 million (0.56%), respectively from October 2020 to the end of May 2024, while the average daily trading value was NT$223 million (0.12%) and NT$54 million (0.11%) before the implementation of the intraday odd-lot share trading system (January to September 2020), with an increase of about 948% and 713% respectively. The number of odd-lot listed share trading accounts on the TWSE and the TPEx increased from 320,000 and 350,000 to 1.21 million and 2.29 million, respectively, with a high growth rate of 283% and 551%. In addition,the group under 30-years-old accounts was the largest growth group both of the TWSE and the TPEx markets, with the percentage increasing from 21.10% and 10.31% to 27.91% and 15.82% respectively. It indicated a significant increase of young people investing in the capital market.
The FSC(Financial Supervisory Commission) stated that the intraday odd-lot share trading system is being improved and optimized gradually. After the shortening of the matching of intraday odd-lot trading to 1 minute since December 19, 2022 to the end of December 2023, compared with the 3-minute matching period (October 26, 2020 to December 16, 2022), the price difference of intraday odd-lot trading on TWSE and TPEx has decreased by 24.39% and 19.62% respectively. It showed that the shortening of the matching interval can improve intraday odd-lot trading efficiency. It is expected that the shortening of the matching interval of intraday odd-lot trading to 5 seconds will further promote the liquidity of intraday odd-lot share trading, and provide more investment opportunities for odd-lot share trading. The FSC will also continue to supervise the TWSE and the TPEx to strengthen their investor education and advocacy for securities firms and investors. The FSC also reminds that investors should carefully evaluate the transaction costs and their own financial situation, understand the companies’ financial and business fundamentals and pay attention to relevant investment risks.

Contact unit: Tiffany Chiu, Section Chief, Securities Trading Group, Securities and Futures Bureau
Telephone: (02)2774-7431
If you have any questions, please write to the Commission’s public opinion box.